DORAL, FL - 
(NewMediaWire) - June 10, 2015 - On June 10,
2015, In Ovations Holdings (OTC
PINK: INOH) and 2 Lisa Court Corporation executed a Letter
of Intent (LOI) for the purchase and rehabilitation of the Meridian
Mid Continent Tank Farm and Terminal (hereinafter "Tank Farm")
located in Meridian, Mississippi. The Tank Farm is situated to
store over seven point five million gallons (7,500,000) of refinery
product and, after rehabilitation, will produce an approximate
income in excess of $1,800,000 per year and possess a total
property/project value of between $13,000,000 and $14,000,000.
2 Lisa Court Corporation, via the LOI, has already committed to
provide up to 50% seller financing to In Ovations Holdings on the
approximately 20 acre site.
"We are thrilled to announce this exciting project which is
consistent with our continued redevelop of INOH as a diversified
revenue generating holding company. With two Interstate Pipelines
already on premise, namely the Colonial Pipeline (originating in
Houston and terminating in the New York City Harbor) and the
Plantation Pipeline (originating in Baton Rouge and connected to
terminals in Washington National and Dulles), the Tank Farm is
well-positioned to serve the domestic energy industry which
continues to realize significant growth," said CEO Rosendo Alvarez,
III.
The LOI provides for a fourteen day period of final due
diligence. Valuation reports and site studies have already been
provided and reviewed. Upon completion of due diligence, which
process is being expedited, In Ovations Holdings and 2 Lisa Court
Corporation expect to enter into a formal contract for Purchase and
mortgage terms. In Ovations Holdings expects to release details of
future plans for the Tank Farm in the near term.
Finally we announce that, as a result of the recovery associated
with his recently suffered stroke, the Company has accepted the
resignation of Co-CEO Mark Goldberg, effective immediately. Mr.
Goldberg will still maintain his active Board membership. Rosendo
Alvarez, III will serve as sole interim CEO until the next formal
meeting of the Board of Directors. The Company would like to extend
its sincere thanks to Mr. Goldberg for his years of service and
wishes him well in his continued recovery.
"Safe Harbor Statement" Under The Private Securities Litigation
Reform Act of 1995: The statements in this presentation that relate
to the Company's expectations with regard to the future impact on
the Company's results from new products in development are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The results anticipated
by any or all of these forward-looking statements may not occur.
Additional risks and uncertainties are set forth in the Company's
Annual Report for the year ended June 30, 2013, and the Company's
Quarterly Report for the first quarter ended September 30, 2013.
The Company undertakes no obligation to publicly release the result
of any revisions to these forward-looking statements that may be
made to reflect events or circumstances after the date hereof, or
to reflect the occurrence of unanticipated events or changes in the
Company's plans or expectations.
